Alibaba in a few minutes penetrates $ 1.44 billion for a single day

Alibaba Group Holding Ltd. recorded 10 billion yuan ($ 1.44 billion) of sales volume in the minutes of opening its annual Singles Day extravaganza, surpassing last year's start, as buyers around the world gathered online e-commerce bazaars.

China is the biggest company attempting to infect the business through a simultaneous television entertainment spectacle in which Cirque du Soleil and Mariah Carey reported that Xiaomi, Apple, and Dyson were the first three in early sales.

The annual retail celebration, originally devoted to the national incompatibility, has become an important bell tower not only for the company but also for the country. This year's Gala of November 11 provides an insight into consumers' opinion in China when American tensions and so- The so-called tariff war ripped off the stock markets and threatened to dampen the world economy no.

However, Alibaba intends to bridge the growth of 39 percent in 2017 and 168 billion yuan in transactions, in combination with Black Friday and Cyber ​​Monday.

Scorching Run

The challenge for billionaire Jacko Ma and his lieutenant Daniel Zhanga is to speed up another record after a fierce decade. With cooling, saturated markets and competition from smaller platforms, such as JD.com Inc. and Pinduoduo Inc., Alibaba is now looking for new growth engines.

"Alibaba uses all of its platforms to make Individual Day a holiday that includes dining and entertainment," said Jet Jing, president of Tmall, one of the company's major companies, on a day-to-day day. "We're connecting a network purchase with offline physical sockets".

An individual day was the idea of ​​co-founder Ma and Zhang, who came to the idea that over the past decade the counter-cultural vacation turned into a shopfest. First popularized by students, November 11 appeared as an anti-sentimental sentimentality of Valentine's Day. His name comes from the manner in which the day is written as numeral 11/11, which resembles "naked branches", a local term for unrelated. Now it has become an excuse for people to buy, eat and entertain entertainment shows. It has become so huge that packaging waste – Alibaba expects billions of packages to be delivered this year – and potential environmental damage remains problematic.

The Chief Executive Officer, who will assume the Chairman of the Retirement for the next year, must prove that he can continue with this legacy. Its headquarter in Hangzhou also uses the opportunity to test the boundaries of its forms of processing, delivery and payment in the cloud.

However, this year there is some uncertainty as trade tariffs and the deflation of property values ​​threaten the deterioration of economic growth. China's online retail growth slowed to 24 percent in the third quarter, by 12 percentage points over the previous three months, according to the Central Bureau of Statistics.

Read more: Alibaba preaches caution because signs come from US trade organization in the US

It's been three years since Ma said he wanted Singles Day to be a global phenomenon, but that did not happen. International expansion will be a key part of Zhang's efforts to keep track of records. Last year, the first three non-Chinese single-day markets were Russia, tiny Hong Kong and the US in that order. Popular items bought abroad include mobile phones, woolen coats, and knitted dresses.

At the same time, Alibab's efforts to push into the US are spraying. He declined his efforts to create a million jobs in the country, lost his top American dealmaker, and rejected plans for affiliate Ant Financial to earn MoneyGram. US President Donald Trump said in mid-October that he plans to withdraw from the 192-nation agreement that Chinese companies provide retail price discounts for small packages sent to US consumers, making it even more difficult for Chinese merchants to market.

South-East Asia will give the clearest indication of Alibaba's ability to go global. With Lazad, headquartered in Singapore, now fully under the wing, the region is still one of the relative bright spots of the company, focusing on the slowdown in China's growth and the turmoil triggered by the growing trade war.